Market Size of Italy Online Accommodation Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Italy Online Accommodation Market Analysis
The Covid-19 pandemic hit the travel industry hard in 2020, as countries implemented restrictions on travel to contain the health crisis. Due to the pandemic, the value of online tourist transactions in Italy decreased sharply in 2020, more than halving over the previous year. In 2020, online tourist transactions in Italy amounted to USD 6.58 billion.
In 2020, more than 30% of all individuals used the internet for online travel and accommodation services in Italy. The majority of the online accommodation market is presently controlled by several online intermediaries, such as online travel agencies (OTAs). It is anticipated that by 2023 about 50% of the hotel booking revenues are to be derived online with an even higher share for short term rentals.
Digital payments in Italy generated USD 50.81 billion in which mobile payments accounts for 14% with USD 7.11 billion. The mobile wallet payment in travel & Accommodation industry expected to increase at significantly over the next 5 years.
In 2019, most Italians who booked holiday accommodations online came from the North-West. About 32 % of individuals from this Italian macro-region booked travel accommodations online. On the other hand, nearly 23% of Italians from the Islands booked holiday accommodations online.
Italy Online Accommodation Industry Segmentation
Online accommodation is a popular method for booking hotel rooms, travellers can book rooms online by using online security to protect their privacy and financial information and by using several online travel agents to compare prices and facilities at different hotels. It is segmented By Platform type (Mobile application & Website) & By Mode of Booking Type (Third Party online portals & Direct/Captive portals).
| Platform type | |
| Mobile Application | |
| Website |
| Mode of Booking type | |
| Third Party Online Portals | |
| Direct/Captive portals |
Italy Online Accommodation Market Size Summary
The Italy online accommodation market has undergone significant transformations, particularly influenced by the Covid-19 pandemic, which initially led to a sharp decline in online tourist transactions. However, the market has shown resilience and is expected to recover, with a growing share of hotel booking revenues being generated online, especially in the short-term rental sector. The increasing digitalization in Italy, with a substantial rise in internet and mobile internet users, has facilitated this shift from traditional travel agencies to online platforms. This transition has not only reduced capital investments but also enhanced user experience, transaction efficiency, and customer satisfaction. The market is characterized by the dominance of online intermediaries like online travel agencies, with major players such as Airbnb, TripAdvisor, and Expedia leading the charge.
Sustainable tourism is becoming increasingly important in Italy, with a significant portion of travelers making eco-friendly choices when planning their trips. This trend is reflected in the growing preference for sustainable hotels and practices that contribute positively to the environment, economy, and society. The desire to avoid mass tourism and reconnect with local cultures and nature is driving this shift. The market is also witnessing technological advancements and service innovations, with both domestic and international companies expanding their presence by securing new contracts and exploring new markets. Partnerships, such as those between TripAdvisor and various hotel technology providers, are further enhancing the travel experience, indicating a dynamic and evolving online accommodation landscape in Italy.
Italy Online Accommodation Market Size - Table of Contents
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1. MARKET DYNAMICS AND INSIGHTS
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1.1 Market Overview
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1.2 Market Dynamics
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1.2.1 Market Drivers
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1.2.2 Market Restraints
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1.3 Value Chain Analysis
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1.4 Porters 5 Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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1.5 Technological Innovations in the Market
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1.6 Insights on the various offers given while booking online accommodation
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1.7 Insights on the price distribution of various stakeholders in the online booking systems
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1.8 Advertising Strategies Implemented by the Market Players
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1.9 Impact of Covid-19 in the Industry
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1.10 Government Regulations
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2. MARKET SEGMENTATION
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2.1 Platform type
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2.1.1 Mobile Application
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2.1.2 Website
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2.2 Mode of Booking type
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2.2.1 Third Party Online Portals
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2.2.2 Direct/Captive portals
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Italy Online Accommodation Market Size FAQs
What is the current Italy Online Accommodation Market size?
The Italy Online Accommodation Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Italy Online Accommodation Market?
Booking Holdings, AirBnB, Trip advisor, agoda, Bookings for you and Expedia are the major companies operating in the Italy Online Accommodation Market.
